Israel's inflation rate was stagnant in 2000, the first year since the Jewish state's creation in 1948 the consumer price index did not rise, the central statistics bureau announced Monday.
Prices sunk by 0.1 percent in December due to a drop in oil and gas costs and have stayed more or less level since the beginning of 2000
The zero inflation is tied to the strong shekel, high interest rates and a slowdown in economic activity.
The growth rate in Israel is expected to drop from five to four percent in 2001 due to the three-month-old Palestinian uprising or intifada, according to the finance ministry. — (AFP, Jerusalem)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
